Protecting Your Assets in Divorce: Learning from Kim Kardashian

By
Hopper Law Firm, PLLC
|May 07, 2013

The Kardashian family over the past few years has been on our news feeds
online and with celebrity gossip; we all know Kim filed for a
divorce just 72 days after saying her vows, and we all have heard about the huge
financial battle which was taking place between her and Kris Humphries,
as he tried to seek control over part of her bank account. What many people
didn't expect is that there is a lot to learn from this situation,
because after a lot of work, she was able to reach a settlement with her
ex and is likely protected from him taking even one more penny. Kim claims
they married and not long after, she needed to get out; while the divorce
said "irreconcilable differences," there is little else described
of what led to their split so soon. All that to say; this man tried to
fight for her money, and she was able to protect it.

While most of us don't have that kind of money, we do still have funds and
assets that we want protected, and for some people, this is the reason they hesitate
with marriage in the first place. As finances are the leading struggle
couples have which lead to divorce, it is also a common reason that makes
people not want to marry in the first place. One of the first crucial
things to take into consideration is having knowledge of your spouse's
personal finances. In an ideal world, having a thorough knowledge of your
spouse's money even before you get married is best, that way there
are no surprises down the road. However, studies done in 2011 by the National
Foundation for Credit Counseling show there are at last 25% of spouses
who keep financial secrets from their spouse after they marry. Open communication
before marriage is extremely helpful so that you don't feel blindsided
with money problems fueling the divorce.

Next, if you are concerned you may divorce, consider keeping your credit
separate from your spouse. When you join accounts, it not only gives them
access to your funds, but it also makes you responsible for their debt
as well. Lastly, if you are at all concerned with your money or property,
filing for a prenuptial agreement is a wise route to take. This option
will allow you to list out specifically what your separate property is,
and therefore it will be protected from your spouse if they decide they
want to divorce you.

The information on this website is for general information purposes only.
Nothing on this site should be taken as legal advice for any individual
case or situation. This information is not intended to create, and receipt
or viewing does not constitute, an attorney-client relationship.